Post
Topic
Board Beginners & Help
Re: Where should i keep my bitcoins?
by
o_e_l_e_o
on 02/05/2021, 06:54:33 UTC
exporting the private key to a text file that is not stored anywhere online
I wouldn't recommend this, especially not for newbies. First of all, storing individual private keys is inferior to storing a seed phrase for a number of reasons. It's harder to work with, easier to make errors, harder to copy, doesn't have a checksum, won't generate change addresses, worse for privacy, and the list goes on. Secondly, backing up seed phrases or private keys electronically is generally very risky. In a fully airgapped environment it might be relatively safe, but most newbies do not know how to do this properly and will end up exposing their seed phrase or private key to the internet.